'Essar to invest Rs 50,000-cr in Gujarat SEZ'

Ahmedabad, Mar 2: India's leading business tycoon and Essar Group Chairman Shashi Ruia today said that the Group is going to invest Rs 50,000-crore in Special Economic Zone (SEZ) at Hazira in Gujarat. The amount of Rs 50,000-cr would be invested in next three years at Hazira SEZ, Mr Ruia said while talking to mediapersons at the inaugural function of Phenix Varco Pruden plant of M B Group located near Sanand, around 40 km from here.

''The investment would be specifically in three sectors -- steel, gas and power,'' he informed. The Essar Chairman said that the future growth of nation is going to be driven by manufacturing units with their massive production. ''In the world, India is rising as a great economic power with Gujarat taking as a lead. Gujarat has attracted over 25 per cent of total investment of funds made in India in various sectors by local and foreign investors,'' Mr Ruia said.

''The Steel, Gas and Power would be key sector to write India's growth story in coming years,'' Mr Ruia added.

UNI